Foundry Partners LLC Sells 1,346 Shares of Newmont Co. (NYSE:NEM)

Foundry Partners LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 263,437 shares of the basic materials company’s stock after selling 1,346 shares during the quarter. Foundry Partners LLC’s holdings in Newmont were worth $14,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Landscape Capital Management L.L.C. bought a new position in Newmont in the 3rd quarter valued at $1,079,000. Citizens Financial Group Inc. RI grew its holdings in Newmont by 905.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 129,023 shares of the basic materials company’s stock worth $6,896,000 after acquiring an additional 116,194 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Newmont by 3.3% in the third quarter. First Horizon Advisors Inc. now owns 29,296 shares of the basic materials company’s stock worth $1,566,000 after acquiring an additional 923 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Finally, Gemsstock Ltd. raised its position in Newmont by 52.2% in the 3rd quarter. Gemsstock Ltd. now owns 464,300 shares of the basic materials company’s stock worth $24,817,000 after purchasing an additional 159,200 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. Royal Bank of Canada lowered their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Bernstein Bank boosted their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Newmont Price Performance

NEM stock opened at $42.99 on Thursday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company’s 50-day simple moving average is $50.63 and its 200 day simple moving average is $47.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Sell-side analysts forecast that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by insiders.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.